https://bitflikz.com/blogs/news/critical-security-update-from-bitflikz-gdax-coinbase-may-be-insolventWe have come to learn that users may be at risk from the exhanges Coinbase and GDAX.
This is breaking right now and we have some pending reports of how deep this may actually reach.
In actual fact, GDAX and Coinbase are related. They are owned by the same company.
It has become apparent that GDAX have suffered major replay attacks in the early trading of the new hardfork (ETHF) clone.
They did not properly secure themselves from the attack after advice presented by the Ethereum foundation was taken.
During this period it is unknown what actual amount of ETC was relayed but we have estimated it is much bigger than initially anticipated.
This occurred over a number of days as GDAX where assured by the Ethereum foundation there would be no interest in the original and unbreakable genesis chain.
They where even aware of the attack vector but left it unpatched. It is specualted this may have been an attempt to kill off their competing chain.
credits to TanteStefana2, who mentioned it in the Dash ANN thread.
Mwhahahaha ! These coinbase guys don't know the fundamentals of block chains !
The "replay attack"is NOT AN ATTACK but a feature of forked chains, goddammit !
Calling it an attack is maybe a way to point to a nebulous inexistent "hacker" to turn away the idea that you might have fucked up in a very elementary way ! (or that you are a smart ass pretending, and stealing the ETC, but that's easily verifiable on the block chains: are the first moves identical on both chains (normal behavior = "replay attack") or have there been different transactions on both chains (big scam) ?
In any case, if these guys don't know that a transaction on chain 1 is ALSO a transaction on chain 2 if you don't make it explicitly invalid, then they are so incompetent they shouldn't run anything that has to do with crypto.
